Media 

Greencoat UK Wind PLC: Announcement of half yearly results and interim dividend

31 July, 2014

GREENCOAT UK WIND PLC

(the "Company")

 

Half-yearly Results to 30th June 2014 and dividend announcement

 

Highlights

Strong operating and financial performance during the period, with overall performance in line with expectations. 
- The Group's investments generated 250.7 GWh of electricity, in line with budget.
- Net cash generation after fees, costs and expenses was £20.1 million.
 
Acquisition of the Kildrummy and Maerdy wind farms in June 2014 increased the portfolio to twelve wind farms, increasing net generating capacity to 226.4MW and Gross Asset Value to £498.4 million.
 
The Company paid an interim dividend of 3 pence per share on 21 February 2014 for the period 1 July to 31 December 2013.
 
Interim dividend of 3.08 pence per share was approved on 30 July 2014 in relation to the period 1 January to 30 June 2014.
 
Net Asset Value increased to £363.4 million (105.8p per share).  

 

Commenting on today's results, Tim Ingram, Chairman of Greencoat UK Wind, said:

"We are pleased to report the continued good performance of our UK operating wind portfolio, with overall performance in line with our expectations during the first half of 2014.

"UK Wind's aim is to provide investors with an attractive and inflating dividend alongside real capital preservation. The announcement of our third dividend, which increased in line with inflation, together with Net Asset Value growth during the period to 105.8p per share, highlights UK Wind's continued delivery on its commitment.

"We anticipate continued substantial growth in the UK wind farm market, providing further investment opportunities for the Company. We believe that the high quality, value-enhancing acquisitions made to date reflect the benefit of our independent model.  We look forward to continuing to deliver stable returns and to building the business."

 

NAV
The Company announces that its unaudited Net Asset Value as of 30 June 2014 is £363.4 million (105.8p per share). The Company's June 2014 Factsheet is available on the Company's website, www.greencoat-ukwind.com.

 

Dividend Announcement
The Company also announces an interim dividend of 3.08p per share in respect of the period from 1 January 2014 to 30 June 2014.